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Definition of trust company in US English:

trust company

noun

A company formed to act as a trustee or to deal with trusts.

‘Ultimately the majority of the committee, whilst feeling that the proposal had merit, believed that the ability of a trust company to transact business with its parent company should be controlled by Parliament.’

‘Rather than sell a small noncontrolling stake, the trust company figured selling its entire stake would bring a higher price per share, a so-called control premium.’

‘You can choose a person you trust or a trust company to serve as trustee to manage the funds during your wife's lifetime.’

‘Furthermore, if either of the divorcing couple are only discretionary beneficiaries, they cannot call upon any of the assets or income of the trust, unless they also control the trust company.’

‘To avoid some or all of these potential problems, you should discuss the possibility of naming a financial institution or trust company to serve as sole trustee, or as co-trustee.’